The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been tested in battle yet. This is something potential buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the market of hardware wallets that claims to be completely secure because of its complete separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product available on the market.